Our Obligations

We are obliged to consider whether our clients create any threats to our compliance with our Fundamental Principles and where we cannot reduce the risk to an acceptable level we are obliged to decline or cease the client engagement.

We have a duty to act in your best interests, unless this duty is inconsistent with our duty to act in the public interest.

We will inform you:

• of your (or your employer’s) rights and obligations available under taxation law, including any rights that might be available to seek a private ruling and the lodging of objections and appeals against adverse positions adopted by revenue authorities
• of any possible penalties and other legal tax consequences to enable you to make an informed decision.

We are responsible for maintaining records for a period of 5 years unless otherwise required by legislation. This includes electronic.

During the course of our engagement, if we identify or suspect that Non-Compliance with Laws or Regulations (NOCLAR) has occurred or may occur, which may have a direct effect on material amounts or disclosures in the financial statements or compliance and may be fundamental to your ability to continue its business or to avoid material penalty, we may:

•          discuss the matter with the appropriate level of management, those charged with governance or the internal auditor, as appropriate
•          disclose the matter to an appropriate authority even when there is no legal or regulatory requirement to do so; and/or
•          withdraw from the engagement and the professional relationship where permitted by law or regulation

Where appropriate we will inform you of our intention to disclose the matter to an appropriate authority before disclosing the matter. However, if we have reason to believe that the actual or intended conduct would constitute an imminent breach of a law or regulation that would cause substantial harm to the general public, we may immediately disclose the matter to an appropriate authority in order to prevent or mitigate the consequences of such imminent breach of law or regulation.